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HUD Passbook Rate Change-follow up

Hopefully everyone is aware of the HUD passbook rate change. Effective February 1, 2015, the passbook savings rate to be used for all move-in, initial, annual, and interim recertifications when a family has net assets over $5,000 is .06% (that’s .0006 and no rounding).

This new rate will affect the following subsidy types:


October TRACS Industry Working Group Meeting

Our TRACS industry meeting began on a sad note: Willie Spearman, Gail Williamson and Deb Lear have announced their retirement from HUD. These three individuals have made large contributions to the multifamily housing industry. They will be sorely missed!

Also discussed at the TRACS industry 202D working group meeting last week was how to address […]

Revised EIV Notice 2011-21 Issued – August 19, 2011

Housing Notice 2011-21, Enterprise Income Verification (EIV) System, was issued today, August 19, 2011. This Notice supersedes Notices H 2008-03, H 2009-20, and H 2010-10.

Read on for the summary of changes:


Removal of SSN from tenant files

Although this is not yet a requirement, it is obvious that there is a push in the affordable housing industry to reduce the amount of times the SSN is disclosed in the tenant file to minimize the risk of identity fraud. We were told during a recent TRACS Industry meeting that the SSN will not […]